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Lay on McDuff !!!!
I pray that ZN hits something hits and hits soon.
All the faithful shareholders have waited so long for this to happen.
Well if we are just stating opinions, mine is Israel will roll the dice once more and let $ZNOG go ahead give it another try
Now the Energy Ministry or the Kibbutz may have asked for more data or asked $ZNOG to environmentally methods
We can opinion the daylights our of any ticker
KyOil, I really enjoy your posts. They are informative is an understatement
I get more information out of a single post of yours than I do ZN's BOD for a year.
how do you come up with all this information ??
Why does ZN not give it to us ?
Remember how (I can't recall his name) was holding up a shot glass of oil and declaring success?
That still haunts me - and the trust factor.
Best of luck to us all.
There are some on this site that do not post links or references because they simply don't exist
The Term "Trust Me" comes to mind ....and you know how far that goes.
I just pray that there is some method to ZN's madness soon..... this has been a long row to hoe.
Please provide a link to rejection, I do not see it anywhere.
I know it says 60 days, but I see nothing showing it was approved or disapproved
Environmentalists object to fracking for all the reasons you mentioned.
Israel did approve fracking of MJ02 with < 100 micron proppants. And Israel tends to be very environmentally sensitive; especially under the previous regime when the MJ02 fracking took place.
Perhaps it was a combination of the small proppant and the small surface footprint that got it approved.
Just a question:
Do environmentalists ban fracking because of the chemicals or water used which might cause environmental damage to the underground geography?
Or do they ban it because it cracks the earth, which fouls the underground geography, cross, contaminates aquafers, and causes earthquakes?
Think like an environmentalist. No matter how environmentally friendly fracking is, it still cracks the earth. For the fracking operation, I think the new Halliburton electric system is the best at environmental friendliness, no diesel pumps, no diesel at all: all 100% electric, fracks with 99% water which safely evaporates away and dissipates, no environmental damage. Never the less, it still cracks the earth! Which is the point, and problem, with fracking in the first place.
I tend to agree with most of this.
I tried to comment but...
Anyhow, thanks KyOil.
Thoughts on the June 7, 2023 ASM
Technical
- MJ02 is close to MJ01, but on the other side of a fault line so it has different geology.
-MJ02 formation had three issues:
1. low permeability - potentially solvable with stimulation/fracking - but fracking operation was not successful in the three zones of interest at least partly due to Halliburton equipment failures, but it sounded like the formation was not particularly amenable either. It would be interesting to hear Zion say if MJ01 was successful whether the MJ02 side of the fault line has potential.
2. low porosity - not "solvable" i.e. the formation with have low recoverable oil for a given volume of reservoir rock.
3. low pressure - solvable by lowering well bore pressure with gas - N2 was used and was probably successful.
- MJ02 was fracked with a new technology proppant that does not require intensive water to deploy. Further, produced water from the well (saline) can be used which eliminates fresh water from being hauled in. Very cool. The new proppant has reportedly been used successfully in deep and hot wells. Sounds like Dunn does not want to use the "frack" word due to negative connotations from a large footprint operation that consumes a large magnitude of fresh water. They did frack though.
- MJ01 well bore was damaged by a lubricant added to the mud. A deep penetration technology will be used to reach out horizontally from the well bore into the formation past the damaged area around the well bore. This is likely not high risk.
- After deep penetration, MJ01 will have the new fracking technology applied. Zion believes that the MJ01 formation is better suited for fracking than the MJ02 formation was and therefore has a higher chance of success. Still, this is likely high risk.
- The fracking technology with the microproppant was not available 5 years ago when MJ01 was being tested. This is reasonable as there are constant innovations in oil/gas recovery. Its encouraging that the Ministry approved a fracking technology. If this technology proves to work in MJ01, then it will probably open up other targets in Israel.
Business
- Zion's operations reported to not be impeded by geopolitical events (for now anyway).
- New government is once again favorable to Zion due to Zion's track record and the Ministry's more realistic view on the necessity of hydrocarbons.
- Taking a very long time to approve the new license though - target is beginning of 3Q (July) and operations will start shortly thereafter. Would have been better for the new license to have been announced at the ASM. Just shows that the Ministry moves at its own pace even taking into account that they not able to start working on reviewing/approving the license until mid-January.
- Cash good through August which gives Zion time to announce that MJ01 reentry operations have started and a new Units program to fund the project.
Investor Communications
- Zion is trying to improve, but a lot of the information provided on MJ01 could have been provided many years ago. And the info on MJ02 certainly has been available for several months. I know the point at the ASM was to make the connection/contrast between MJ01 reentry with the MJ02 experience, but the information has been slow coming.
- I agree that the 3D itself should remain Zion proprietary as Dunn stated in the Q&A. But, I don't think that is what most investors mean when they ask if the 3D will be released. What they mean is will the P50 of the reservoir size as indicated by the 3D be released. And it should be released as this communicates what the opportunity is if all the drilling/stimulating operations are successful. Zion is very backwards in believing investors should put their hard earned cash into a risky venture without having any idea what the successful outcome would be. Yes, I know Zion has a vision that is compelling to many. But, that vision is no substitute for providing the business opportunity. As I have said in many posts, I believe the reservoir size reachable from the MJ01 pad is very modest, even with horizontal drilling. Zion would manage expectations much better by providing the reservoir size - i.e. Zion drives speculation by not providing the reservoir size. And I do not think they will see an uptick in the DSPP until the reservoir size they are pursuing is announced.
- Interesting that Dunn said a commercial well could be 200 to 300 BOPD. This is in alignment with my expectations for many reasons that I have posted before. This is indicative that the reservoir is not large. The reservoir size is more important than the BOPD from the first well, but generally the formation characteristics that provide a high BOPD also provide a large reservoir. In any event, 200 to 300 BOPD is a successful start for the reason's Dunn stated.
Summary
A. Zion is a one trick company - reentry of MJ01.
B. Reentry of MJ01 has a reasonable basis for its success, but it is high risk.
C. Points A and B infer that investing in Zion is high risk.
D. Zion does itself and its investors no favors by not disclosing the potential reservoir size reachable from the MJ01 pad.
E. Potential reservoir size is likely modest, but a good start if commercial.
F. If motivated by either the vision or the potential upside, Zion could be an interesting investment but DO NOT INVEST WHAT YOU CAN NOT AFFORD TO LOSE!
G. I know some think Zion is a scam. I don't - just think exploration is a tough business and they have had a tough time with several issues out of their control. However, they create a lot of their own problems by not timely/thoroughly communicating conditions in the oil patch.
Read the regulation and run the calculation:
"Where the Commissioner has concluded that he cannot determine that a discovery
has been made in the license area on the basis of the submitted data, he shall notify
the license holder about his decision in writing, and this within 60 days of the date
of completion of having submitted the data."
"Where the Commissioner has concluded that the data submitted by the license
holder is reliable and corroborated, prepared according to the best industry practice
and includes sufficient information and reasonable assumptions, and that on the
basis of this data he can determine that a discovery has been made in the license
area, the Commissioner shall notify the license holder in writing his approval of the
existence of a discovery in the license area, and this within 60 days of the date of
having completed the submission of all the data"
Zzzzz
Broken record
If you follow this "daily", as you guys do, you have to know the initial lease request filed Jan 24th has been rejected. They have until as late as May 24th to file an appeal, so it should be currently in appeal status. The final appeal decision should come in by June 24th, unless Zion Oil is playing games with the oil ministry and slow walking answers to questions from the ministry.
The initial rejection, by oil experts at the oil ministry, probably indicates 1) a massive oil strike by Zion Oil, or 2) they have chit. Your choice, what's it matter?
Bottom line, this is nothing more now than a penny stock of which millions in "salaries" will be siphoned off by the 17 senior staff and board members, while the stock itself will act as any penny stock does. Like I said yesterday, 7 cents is a good buy, but it's a penny stock now so beware.
The long term stockholder from this point forward is the friend of the penny stock day trader, they love you guys. If you are still in Zion Oil, be sure you brush up on how penny stocks trade.
...you gotta know, they have nothing. Sorry, but many of us don't gotta know that. In fact, many of us are hopeful that they do have something.
Now that was truly enlightening!
Good morning Shouldbe, I have not listened to the ASM yet; been very busy. Will soon :)
KyOil, have you had a chance to listen to the ASM? Wondering what your thoughts are? Seems very encouraging to me but I’m not an oil person….
.And if you miss that meeting rerun, there will be another meeting, just like this, a year from now.
Well I had comments, but watch the meeting. It is worth it.
This appears to be a minimum pricing for the re-boot.
Those with guts will get in, but it's really scary at this point 'cause you gotta know, they have nothing.
Chances of winning small are big, so I can understand that gamble. Unfortunately, chances of losing big are even bigger. Some will take that gamble. At one time, I did. And they will, too. I just hope they don't suck many people in with them.
Did anyone see a sharp rise in the share price after yesterday's meeting?
Yeah, me neither.
It proves once again that some talk like they know and the results prove that they don't.
Don't believe everything you hear. There are people here who drop in in hopes to keep pushing this as if this is the latest and greatest thing and it's not.
l will make it $100 that they will. You can contact me privately and we can formalize our bet. Your move.
We must have listened to 2 different meetings. I heard a lot of positive things, e.g. they will get thier license, tests showed "shows" at several levels and a high level of optimism that they will be succesful. All the negativity is so counterproductive.
Did anyone ask why they are anticipating license approval in the 3rd quarter? That's a big projection. Any reaon why? $10 says no word this year on a license.
Well, Zion's B.O.D. accomplished THEIR GOAL by continuing to devalue our share price. They approved the increase of the shares to 1.2 billion.
They approved pretty much everything THEY WANTED.
So, where are we at today? More BLOWING SMOKE UP THE CHIMNEY.
They'll ride this out until they can't get a big paycheck any longer, that's just my view.
I DO NOT trust this B.O.D. and will NOT trust this current B.O.D. nor John Brown trying to put all this on God and take the emphasis off of himself.
I still didn't hear them say that there has been any extension approval nor new lease approval (someone correct me if I am wrong about this).
So, basically, it's more blah, blah, blah, blah, and more blah blah, blah, blah.
They do NOT really care about us shareholders in my opinion. I know what their mouths say but their actions are speaking much louder than their words to me.
Peanuts, popcorn, cracker jacks...
Bearish sentiments already born into the price. I rolled the dice and bot a few. Any positive news is going to be strongly felt. IMO
GLTA
Stocktwits is giving updates. Very encouraging.
Hi Everyone I sure hope somebody gives an overview of what is being said today. I am not able to be on the meeting today so I sure would appreciate it.Please!!!!THANKS WHISTLEBLOWER
Like it was with NESS, the only thing that can take out Zion Oil is the death of it's founder. Zion Oil and annual stockholder meetings will continue for some time (before it stops).
But my take on this is even if legit, putting money into an enterprise that will collapse with the death of it's 80 year old founder is not wise money management. Rob Dunn isn't exactly all that charismatic. Neither is the head lawyer that runs the place.
May do the same. Being no novice to penny stocks I’m prepared for a hit or miss. Don’t forget my beloved sector we talked about. Time is nigh for a bull market to top all bull markets.
Hey Dj, all is good in Ky and hope all is good with you and yours!
Looks like pps is dropping; in anticipation of lackluster news at the ASM? If it drops much more I will be tempted to buy to ride that possible moonshot.
Board of...
Diluters are what ZNOG has...
Look, the share price continues to drop and the B.O.D. continues to devalue the share price. Then they are wanting to increase the amount of shares available to them.
In addition, we still have no commercial grade discovery, no official extension or new license approval since February, and the B.O.D. still collects fat checks.
Someone, please tell this long time investor how any of this makes sense?
I DO NOT trust this B.O.D.'s.
Peanuts, popcorn, cracker jacks...
Personally, I think they are blowing smoke.
QUESTION: Could tomorrow be the last ASM ever for Zion Oil? Is it possible for them to continue at this rate & even be in existence by June 2024?
Dear Board of Directors of Zion Oil and Gas.
You did not have to issue more stock - it is available now via everybody selling off.
2.3 Million Shares waiting for the news or lack thereof.
This might have looked more plausible if you would have hired more Petroleum Engineers instead of Lawyers.
I "was" a firm believer - I was a long term share holder
If you don't pull a miracle out of your hat at the Meeting...... Well, there only one alternative.
Let's not forget Zion Oil's press release two weeks ago, "Zion Oil & Gas, Inc. (OTCQX: ZNOG) celebrates significant milestones and divine guidance leading the company into a new phase of operations in Israel". So guys, hold them to it at the annual stockholders meeting Wednesday. Hold them to it. What milestones? What is the divine guidance phase?
And then after the meeting: decide about the significant progress and divine guidance. They telling the truth, or they blowing smoke up yur backside..
Is that fair enough?.
Greetings fellow speculators. Hope you are all well and making money elsewhere. Still a moonshot or possibly Kuiper belt shot for this company.
Hello All, so i read the board almost every day and like most sit in the wait mode not sure what to make of ZNOG, this morning on telegram Amir Tsarfati posted this on his board.
Amir Tsarfati, [5/31/2023 10:33 AM]
A new natural gas reservoir was discovered off the coast of Israel - Katlan
According to the announcement of the Ministry of Energy and the Energian company, the extent of the reservoir is estimated at 68 Billion Cubic Meters (BCM), while the annual gas consumption in Israel is less than 13 BCM. The Leviathan Reservoir is the largest off the coast of Israel with 600 BCM, Tamar with an estimated size of 300 BCM and Shark-Tanin 100 BCM
The Ministry of Energy and the Energian company announced today (Wed) the discovery of a new natural gas reservoir off the coast of Israel with an estimated size of 68 BCM. For comparison, the annual consumption of the entire Israeli economy is less than 13 BCM. The new database will be called "Katalan".
This is the fourth largest gas discovery found in Israel since the beginning of the previous decade. The largest discovery is the Leviathan reservoir, which is estimated at 600 BCM, the second largest reservoir is Tamar, which is estimated at 300 BCM, and the third reservoir is Harish-Tanin, also held by the Energian company, with a size of 100 BCM.
I do not think using the excuse about security for not sharing info is very valid anymore after reading this excerpt from an Israeli in Israel. Either way all of us knew the consequence's of ZNOG as a exploration company. To be honest i have not bought any after Dec 2021 and I'm in the process of trying to move my shares out of AST so I can sell with out the fee affecting my losses even more if stock price does not improve
My plan is too wait it out for now but in the future if i buy anymore or any other stock will take gains on stock price and let things play out for the better or the worse.
this is my 2cents worth
The sad faces I was talking about wasn't from the audience. It was from the presenters.
Anyway, to refresh your memory regarding last years meeting, you can start about Post #49521 here at IHUB, "I knew it was bad news by the body language and glum looks at the very start of the meeting." and continue on to get the drift. It will repeat.
It's about CEO spouting religious mumbo-jumbo to perpetuate fraud as part of an Affinity-Scam. Nothing to do with anyone else.
At the end of the day, I would rather be the one that spouts the "religious mumbo jumbo" than the one who ridicules such folks.
I watched last year's meeting and I don't recall any sad faces. Also, like you, I could not see anyone in the audience so I wonder how you know there were so many sad faces.
Somebody must know something...lol
Peanuts, popcorn, cracker jacks...
But...but...CEO spouts religious mumbo-jumbo bullshit, so it must be a good "investment".
Most people remember the sad faces at last years annual meeting. So, a year has passed. And we will have more sad faces. Nothing has changed. Except the stock was 25 cents a share then. And many here bought more shares.
ZNOG is going to get away with it.
ZNOG = Shameless Religious Affinity scam.
“The victims have been called marks, suckers, and gulls.”
“That’s because con artists often prey on people’s trust and their propensity for believing what they wish was true—especially with get-rich-quick schemes and individual’s desire for a quick buck. They let their guard down and buy into what con artists feed them—all in the belief of the scammer and a high rate of return in exchange for a small investment, albeit a shady deal. But the convincing scammer skews the victim into thinking the payoff will come true and the scheme is legitimate.”
https://www.psychologytoday.com/us/blog/crime-she-writes/201909/the-art-the-con-and-why-people-fall-it
Another great read…
“From the artist's perspective, it's a question of identifying the victim (the put-up): who is he, what does he want, and how can I play on that desire to achieve what I want? It requires the creation of empathy and rapport (the play): an emotional foundation must be laid before any scheme is proposed, any game set in motion. Only then does it move to logic and persuasion (the rope): the scheme (the tale), the evidence and the way it will work to your benefit (the convincer), the show of actual profits. And like a fly caught in a spider's web, the more we struggle, the less able to extricate ourselves we become (the breakdown).”
https://www.inc.com/maria-konnikova/why-people-believe-liars.html
At 1 in 1 million, you're pretty much saying the odds are impossible. With all your "ifs," lack any fact-based analysis and pure speculation, I say you're being rather presumptuous.
Part of the lure of gambling is the lack of understanding of the mathematics behind it. If I could just hit a number on the roulette wheel correctly 4 times in a row, a one dollar investment becomes worth more than a million dollars. You are right, 1 in 10,000 is not correct, it's more like 1 in a million.
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ABOUT ZION OIL AND GAS COMPANY
Zion Oil & Gas is a U.S.-based corporation formed under Delaware law, exploring for oil and gas in Israel on licensed and permitted areas of approximately 99,000 acres located onshore between Tel Aviv and Haifa. Click on below link to find out more about Zion Oil & Gas.
COMPANY INFORMATION
In 1985, during a visit to Israel, John M. Brown (our founder and CEO) became inspired and dedicated to finding oil and gas in Israel, and he started the process that led to the Joseph Project. During the next fourteen years he made several trips each year to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies, and assisted Israeli exploration companies in raising money for oil and gas exploration in Israel. This activity led Mr. Brown, together with others who had assisted him during those years, to form Zion Oil and Gas, Inc. in April 2000 in order to receive the award of a small onshore petroleum license from the Israeli government. Upon its formation, Mr. Brown and the others contributed to Zion all of the technical, economic, legal and financial data they had accumulated over the years relating to oil and gas exploration in Israel. We were reincorporated in Delaware on July 9, 2003. Though we have been around a long time, support for Israel, it is similar to the recent phenomena of social and ethical investing,where in crowd fundraising and otherwise people can choose investments which match their social & political, etc., outlook. To our knowledge those groups are not discriminatorily targeted because of their beliefs.
Below link to ZN®ion's home page & corporate Public Relations banner, more info, inspiration of and ZN's SEC filing archive.
https://www.zionoil.com/
Share Structure
Ownership Summary as reported in the most recent 13-F filings
https://whalewisdom.com/stock/zn
https://www.nasdaq.com/symbol/znog/institutional-holdings
https://www.morningstar.com/stocks/pinx/znog/ownership
ZNOG Statistical Resources
https://www.otcmarkets.com/stock/ZNOG/quote Level 2
https://finviz.com/quote.ashx?t=zn
https://www.otcmarkets.com/stock/ZNOG/security
** https://finance.yahoo.com/quote/ZNOG/key-statistics?p=ZNOG
https://marketwirenews.com/stock/znog/short/
https://www.marketscreener.com/quote/stock/ZION-OIL-GAS-INC-5543530/
Penny Stock Exempt
Transfer Agent Verified
Independent Directors
Authorized shares: 800,000,000 11/01/2021
400,000,000 11/30/2020
200,000,000 09/30/2018
Outstanding shares: 323,653,837 11/01/2021
241,121,879 03/31/2021
238,488,738 03/05/2021
237,512,743 01/28/2021
237,167,067 01/04/2021
236,693,125 12/02/2020
236,524,194 11/30/2020
231,762,828 09/30/2020
173,367,104 05/07/2020
164,691,068 03/31/2020
123,973,084 12/31/2019
64,415,398 09/30/2018
55,888,399 12/31/2017
Held at DTC: 262,060,470 11/01/2021
179,968,498 03/31/2021
179,660,518 03/05/2021
179,487,173 01/04/2021
179,371,295 12/02/2020
179,413,084 11/30/2020
Restricted shares: *6,985,000
Float: 262,060,470 11/01/2021
223.78M 09/30/2020
124,191,166 01/17/2020
95.63M 12/02/2019
57,430,000 09/30/2018
Beneficial Shareholder: 45,700 08/10/2021
https://www.otcmarkets.com/stock/ZNOG/security
* estimate
* https://www.sec.gov/Archives/edgar/data/1131312/000121390020036443/f10q0920_zionoil.htm
Shorting Activity
Notorious clearing house for unlocked GTC shares, log in to see ZNOG availability, up dated hourly.
https://www.interactivebrokers.com/en/index.php?key=ZNOG&cntry=usa&tag=&ib_entity=llc&ln=&asset=&f=4587&conf=am&amref=1
Links to see recent short interest activity
https://iborrowdesk.com/report/ZN
http://shortvolumes.com/?t=ZNOG
https://fintel.io/ss/us/znog bi-monthly + daily intraday
http://shortsqueeze.com/?symbol=znog&submit=Short+Quote%E2%84%A2 bi-monthly
http://www.buyins.net/tools/symbol_stats.php?sym=ZNOG daily squeeze & friction
https://marketwirenews.com/stock/znog/short/
PREDICTED REVENUE WHEN ZION OIL STRIKES
Netback as of 04/10/2020
Posted by JRyan 10/11/2021
NOTE: I am using 300 million shares, todays share price, & todays Oil Price
Jake Maruschok's ZNOG Netback spreadsheet updated daily...sometimes
https://docs.google.com/spreadsheets/d/1Oxc9TLczRxQ_OvAnqN8beZ4foiCXh3GTtuETheInesw/edit#gid=0
Source
https://stocktwits.com/jmaruschok/message/409362402
LATEST UPDATES 2020-2021
Zion Oil & Gas Completion of the drilling phase of MJ-02 well November 23, 2021
https://www.zionoil.com/updates/zion-oil-gas-completes-drilling-phase-of-the-megiddo-jezreel-2-mj-02-well-in-israel/
Zion Oil & Gas Operations Update from Israel as of November 11, 2021
https://www.zionoil.com/updates/zion-oil-gas-operations-update-from-israel-as-of-november11-2021/
Zion Oil contracted for directional drilling services, Operational Update 09/21/2020
https://www.zionoil.com/updates/press-release-september-21-2020-zion-oil-gas-drilling-rig-set-to-depart-for-israel/
What is Directional Drilling?
https://en.m.wikipedia.org/wiki/Directional_drilling
VIDEO: Casing the first section of the Megiddo-Jezreel #2 Well in Israel 2/8/2021
https://www.facebook.com/zionoil/videos/746152222987089/
.
Nature of Operations as of November 2018
Zion Oil & Gas, Inc., a Delaware corporation is an oil and gas exploration company with a history of 18 years of oil & gas exploration in Israel. As of September 30, 2018, the Company has no revenues from its oil and gas operations.
Zion maintains its corporate headquarters in Dallas, Texas. We also have branch offices in Caesarea, Israel and Geneva, Switzerland. The purpose of the Israel branch is to support the Company’s operations in Israel, and the purpose of the Switzerland branch is to operate a foreign treasury center for the Company.
Exploration Rights/Exploration Activities
The Company currently holds one active petroleum exploration license onshore Israel, the Megiddo-Jezreel License, comprising approximately 99,000 acres. The Megiddo Jezreel #1 (“MJ #1”) site was completed in early March 2017, after which the drilling rig and associated equipment were mobilized to the site. Performance and endurance tests were completed, and the MJ #1 exploratory well was spud on June 5, 2017, ahead of the June 30, 2017 deadline under the then-existing license terms. The MJ #1 well has been drilled to a total depth (“TD”) of 5,060 meters (approximately 16,600 feet). Thereafter, the Company obtained three open-hole wireline log suites (including a formation image log) and the well was successfully cased and cemented. The Ministry of Energy approved the well testing protocol on April 29, 2018. Testing of the well is ongoing and the Company expects that testing will be concluded in the fourth quarter of 2018.
Depending on the final outcome and results of the current MJ #1 well and having adequate cash resources, multiple wells could be drilled from this pad site as several subsurface geologic targets are reachable using directional well trajectories.
Megiddo-Jezreel Petroleum License, No. 401 (“MJL”)
The MJL was awarded on December 3, 2013 for a three-year primary term through December 2, 2016, with the possibility of additional one-year extensions up to a maximum of seven years. The MJL lies onshore, south and west of the Sea of Galilee, and the Company continues its exploration focus here as it appears to possess the key geologic ingredients of an active petroleum system with significant exploration potential. In late November 2016, The State of Israel’s Petroleum Commissioner officially approved Zion’s drilling date and license extension request.
On October 30, 2017, the Company sought a multi-year extension to its existing license. After receiving feedback from Israel’s Petroleum Commissioner, the Company submitted a revised extension request on November 9, 2017. On November 20, 2017, Israel’s Petroleum Commissioner officially approved the Company’s multi-year extension request on its Megiddo-Jezreel License No. 401, extending its validity to December 2, 2019. Until recently, the Company remained subject to the following updated key license terms:
No. | Activity Description | Execution by: | ||
1 | Submit final report on the results of drilling | 31 May 2018 | ||
2 | Submit program for continuation of work under license | 30 June 2018 |
On June 1, 2018, Zion submitted its Megiddo-Jezreel #1 End of Well Report (EOWR) for the MJL, thus fulfilling our item No. 1 Final Report license work plan obligation, shown above.
On June 14, 2018 Zion submitted its Application for Extension of Continued Work Program Due Date on the Megiddo-Jezreel License No. 401 . The additional time was necessary because the Company had still not completed testing and evaluating all planned testing zones. On July 1, 2018, Israel’s Petroleum Commissioner granted Zion’s work program report extension to November 1, 2018, as shown below.
No. | Activity Description | Execution by: | ||
1 | Submit program for continuation of work under license | 1 November 2018 |
On October 23, 2018 Zion submitted its Application for Extension of Continued Work Program Due Date on the Megiddo-Jezreel License No. 401 . The additional time was necessary because the Company had still not completed testing and evaluating all planned testing zones. On October 28, 2018, Israel’s Petroleum Commissioner granted Zion’s work program report extension to January 31, 2019.
The above notes excerpted from page 5 of 3rd quarter 10-Q November 8, 2018
https://ih.advfn.com/p.php?pid=nmona&article=78651027
https://www.sec.gov/Archives/edgar/data/1131312/000121390018015173/f10q0918_zionoilandgas.htm
Notes from November 20, 2018 Operational Update:
Given the thermal gradient, flow rates, surface pressure and low salinity, certain ministries within the Israeli government have made requests of Zion concerning the use of the well as a water monitoring well. Zion will review the economic impact and obligations as a result of this request to determine a prudent plugging plan.
•Zone 4;
?1,784-1,775 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
•Zone 5:
?1,232.5-1,228 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
https://www.sec.gov/Archives/edgar/data/1131312/000121390018016338/f8k112018_zionoilandgas.htm
Reference made to August 16, 2018 Operational Update re. future plans
https://www.sec.gov/Archives/edgar/data/1131312/000121390018011310/f8k081618ex99-1_zionoil.htm
/
November 2017 installing blowout protector (BOP)
Zion Oil & Gas Spuds the Megiddo-Jezreel #2 Well in Israel January 6, 2021
3D Grid Map upon completion October 2019
Source: https://www.zionoil.com/updates/
3D Assessent Report completed April 2020 is exclusive and proprietary to the State of Israel and ZION
3D & Rig podcasts
Robert Dunn, speaks about Zion’s recent rig purchase and other details of operations during this time of the COVID-19 spread worldwide.
https://www.zionoil.com/updates/zion-podcast-episode-1-interview-with-zion-chief-operations-officer-robert-dunn/
Dr Lee Russel, Zion Oil & Gas Senior Geoscience Advisor, speaks about his background, his coming to work with Zion, his work on the Megiddo-Jezreel #1 well, and his 3-D seismic interpretation work
https://www.zionoil.com/updates/zion-podcast-episode-2-interview-with-zions-senior-geoscience-advisor-dr-lee-russell/
Zion President, Bill Avery, and Zion CFO, Mike Croswell. Discussion includes the recent filing of the 10-Q, understanding financial aspects, how the rig is a game-changer for Zion..
https://open.spotify.com/episode/4xVV6kgCcFBvF76NsTHJki?si=NvH1GALjThS_ODpZJbsVDA
Jeffrey Moskowitz, Zion's VP, and Israeli Branch Managing Director. The interview discusses Jeff's role at Zion, his history , background, work at the Israeli office, 3-D Seismic work, the purchase of the rig.
https://open.spotify.com/episode/4xXap2YcEe5ZInnNdOSnJv?si=YBisoD9bSDm5Y-UkXOT2JQ
Zion Founder and CEO,John Brown. Discussion includes his heart for Israel, his single-minded focus on obeying God in all things, and his reliance on God's timing.
https://open.spotify.com/episode/2fzeiOxzB58isHgGu3uCr4?si=dx3u3fcIQkWEvbZm-FagEA
Zion Oil & Gas Purchases Drilling Rig for Israel Operations
Zion Oil & Gas, Inc. (Nasdaq: ZN) announces they (i) entered into a Purchase and Sale Agreement on March 12, 2020, for a drilling rig, drill pipe, and related equipment for $5.6 million in cash, and (ii) closed that purchase on March 12, 2020, the same day, by Bill of Sale from the seller to Zion.
On March 13, 2020, Zion paid the seller $4.6 million in cash and remitted the remaining $1.0 million in cash to an escrow agent to be held pending completion of acceptance testing of the rig upon its arrival in Israel.
“This is a new era for Zion and a positive step forward for our 2020 exploration plans,” Zion’s COO, Robert Dunn said. “With our asset based in the State of Israel, our planning and flexibility will become more robust.”
“We believe this is the right time for this to happen,” stated Zion’s President, Bill Avery. “Having cash budgeted and available for the purchase of this rig shows the strong support of our shareholders and evidence of God’s faithfulness.”
The rig is a 1600 horsepower AC Top Drive equipped rig with a twin 1600 horsepower mud pump system with a depth capability of 20,000 ft. The rig will be equipped with almost 15,000 ft of heavy 5” drill pipe along with associated well control equipment and inventory.
Actual rig pictured above. Currently stacked awaiting shipment to Israel. 1600 horsepower AC Top Drive equipped rig capable of 20,000ft depth.
The rig underwent a full CAT III & IV certification in late 2017, reassuring the quality of the rig and ancillary equipment, and it has drilled two wells since certification.
The rig and equipment will be imported into Israel from Romania, where the Drilling Rig is currently stored.
The State of Israel has currently imposed travel restrictions relating to the Coronavirus outbreak, including a requirement that any person arriving in Israel, including the operating crew for the rig, will currently need to undergo a two-week quarantine.
In addition, the ports of entry into Israel through which the rig will need to enter, may be undergoing work disruptions on account of the virus outbreak. Accordingly, it is not possible at the present time to accurately estimate the time or resources that may be necessary to import the Drilling Rig onto the well site or any delay arising as a consequence of the outbreak.
Zion Oil & Gas, a public company traded on NASDAQ (ZN), explores for oil and gas onshore in Israel on their 99,000-acre Megiddo-Jezreel license area.
WATCH THIS SHOW ON CNBC/EUROPE
http://www.exin.tv/mini/cplayer2.html?2,18%20Aug%202006,Zion%20Oil%20and%20Gas,CEO%20Gene%20Soltero
USGS Assessment of Undiscovered Oil and Gas Resources of the Levant Basin Province, Eastern Mediterranean
https://pubs.usgs.gov/fs/2010/3014/pdf/FS10-3014.pdf
~~~~ RESEARCH LINKS & POSTS ~~~~
**** Compiled Zion Information, The SEC, Share Pricing, Field Size!****
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=142598743
* How oil and gas are resources estimated with MJ#1 detail & drilling timeline 7/17/2017 through 3/12/2018
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142326507
* Testing Zones update November 2018
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144911158
* ZN Formation pressure encountered in 2018 & clarification of
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142566219
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144936287
* ZN Wellbore Pressure versus Formation Pressure
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145013764
* ZN Heavy gas encountered Oct 12, 2017: what it means
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144960708
Drilling and Testing Hot, High-Pressure Wells
https://www.slb.com/~/media/files/resources/oilfield_review/ors93/0493/p15_32.pdf
HPHT wells
https://www.slb.com/-/media/Files/resources/oilfield_review/defining_series/Defining-HPHT.pdf?la=en&hash=3FF8F894C76522C77D31DAF3B136B24371E7CCDC
Drilling & Construction HPHT wells
https://www.slb.com/~/media/Files/resources/oilfield_review/ors98/sum98/pgs_36_49.pdf
Directional Drilling
https://drillers.com/directional-drilling-everything-you-ever-wanted-to-know/
Logistics & equipment
https://www.halliburton.com/content/dam/ps/public/solutions/contents/HPHT/related_docs/HPHT_Global_Client_Brochure.pdf
Wellhole analysis, what we know
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143010760
Packers
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143010760
Reservoir Fractures & Pressure
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143010760
Small Acid Job & Completion Fluids
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143309742
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143362301
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143440488
Formation Testing
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143361725
MJ#1 zone trap area and size.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143129790
Discounted rig costs for ZN
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144174715
Onshore Gas
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143858086
MJ#1 Reservoir Announcement Size
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142884720
MJ#1 Geology After Testing Triassic
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143028742
Genie, MJ#1 and the Rift (see 14min)
https://www.youtube.com/watch?v=Uqi1o-_a2ao&feature=youtu.be
https://blogs.timesofisrael.com/israels-oil-in-golan-megiddo-jezreel-valley/
Genie took ~2 years to spud exploratory well
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143591767
Genie took 10 months to drill 1000meters
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143590326
Map of four previous ZN wells
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143258821
Levant Basin report via USGS circa 2010
https://pubs.usgs.gov/fs/2010/3014/pdf/FS10-3014.pdf
Fracking and how it relates to ZN
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143300005
MJ#1 zone trap area and size
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143129790
Well Test Step 1 - Open Hole
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142845818
Well Test #2 - Pressure Transient Test
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142846173
Well Test #3- Production Flow Test
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142846523
Well Test Summary
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142846973
2D vs 3D Seismic
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142854420
Risk Factor #1 - Can the well be drilled?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142701633
Risk Factor #2 - Finances Available to Drill And Test The Well?
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142726740
Risk Factor #3 - Regulatory Approval
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142734193
Risk Factor #4 - SEC Compliance & Final Risk Factor Score Card
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142745430
Risk Factor of Exploratory Well vs. Production Well
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143155094
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144935395
* Calculating PPS based on Israel's Energy Independence
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142628564
* Oil Company that owns 3D Technology
http://www.usgeophysical.com/
* How do seismic surveys work
http://www.oilandgaslawyerblog.com/how-do-seismic-surveys-work/#more-48
* How 3D Seismic Imaging changed the Drilling Industry
http://www.domeenergy.com/3d-seismic-imaging-changed-drilling-industry/
* 3D Underground structures in clearer focus
http://www.dea-group.com/en/dea-magazine-2017-01underground-structures-clearer-focus
* 3D In the Med & Middle East
http://www.pgs.com/data-library/europe/mediterranean/
* Basic 3D
http://www.drillingformulas.com/basic-understanding-about-3d-seismic-for-petroleum-exploration/#more-6265
* 3D Evaluation, sweep example
https://csegrecorder.com/articles/view/an-evaluation-of-single-vibrator-single-sweep-3d-seismic-acquisition
* MJ#1: " a focused 3D seisimaging shoot of approximately 50 square kilometers surrounding the MJ#1 well."
https://www.zionoil.com/updates/press-release-november-29-zion-oil-gas-plans-going-forward/
~sq. kilometers to sq. miles
https://www.dollartimes.com/calculate/area/square-kilometers/square-miles
~If the area of the circle is 50 kilometer2
https://www.calculator.net/circle-calculator.html?radius=&radiusunit=meter&diameter=&diameterunit=meter&circumference=&circumferenceunit=meter&area=50&areaunit=kilometer&ctype=1&x=82&y=17
* MJ#1 Low Chloride Well monitoring:
~Salinity of fresh, brackish and sea water
https://www.engineeringtoolbox.com/water-salinity-d_1251.html
~Mineral content of drinking water, 100 USA cities
http://www.mgwater.com/mgrank.shtml
~WHO Guidelines
https://www.who.int/water_sanitation_health/dwq/chloride.pdf
~~~~ LAWSUITS LINKS & POSTS ~~~~
Lawsuits and SEC investigation impact
All Lawsuits Against Zion Oil & Gas Have Now Been Dismissed
https://www.zionoil.com/updates/press-release-april-1-2020-all-lawsuits-against-zion-oil-gas-have-now-been-dismissed/
https://www.prnewswire.com/news-releases/all-lawsuits-against-zion-oil--gas-have-now-been-dismissed-301033335.html
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=142984351
SEC investigation filing, timing
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143586499
Shareholder Suits re ZN notice of Sec Investigation
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143563443
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144013604
http://securities.stanford.edu/filings-documents/1066/ZOGI00_01/201889_f01c_18CV02067.pdf
Yolanda Holtzee is Whistleblower by her own admission.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143550100
Opinion by IRisky
https://investorshub.advfn.com/boards/read_pmsg.aspx?message_id=143102483
Possible Reason for ZION SEC Investigation
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143166134
A quick brief over where things stand
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143685490
[ZION $ZN AND] THE STOCK MANIPULATION MEME
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=143727229
Possible Outcome for ZION SEC Investigation
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144043255
JRyan's Lawsuit Compilation List up to Oct 9
https://investorshub.advfn.com/secure/post_reply.aspx?message_id=144235839
Lead plaintiff
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=144252116
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=144261260
Malicious Prosecution against a named plaintiff.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=144499304
PacerMonitor, Texas Northern District Court
https://www.pacermonitor.com/public/case/25309943/Peak_et_al_v_Zion_Oil__Gas_Inc_et_al
Litigation accrued estimated loss $500,000 a/o Nov 8, see 10-q , page 33
https://www.sec.gov/Archives/edgar/data/1131312/000121390018015173/f10q0918_zionoilandgas.htm
Assessment Report of November 6, 2015
~~~~~Image & Research Sources~~~~~
Assessment Report issued November 6, 2015
https://www.zionoil.com/updates/zion-oil-gas-announces-independent-resource-assessment-report/
8-K exhibit from Nov 6, 2015
https://www.sec.gov/Archives/edgar/data/1131312/000121390015008273/f8k110615ex99i_zionoilgas.htm
The entire exhibit list
https://www.sec.gov/Archives/edgar/data/0001131312/000121390015008273/0001213900-15-008273-index.htm
Upper Jurassic Original Oil-in-Place (OOIP) and Recoverable Oil
as of September 1, 2015
Gross Prospective Resources
Target Horizon MBbl
Low Estimate Best Estimate High Estimate
(P90) (P50) (P10)
OOIP 32,198 86,061 241,544
Recoverable 5,786 17,893 54,776
Triassic Original Oil-in-Place (OOIP) and Recoverable Oil
as of September 1, 2015
Gross Prospective Resources
Target Horizon MBbl
Low Estimate Best Estimate High Estimate
(P90) (P50) (P10)
OOIP 9,322 26,901 85,250
Recoverable 1,749 5,699 19,694
Example of an Fault Line Structural Trap
https://en.wikipedia.org/wiki/Directional_drilling
MJ#1 zone trap area and size.~~~ We are talking thousands of acres size and feet deep for the reservoir.
~~~ Note: See Seismic Locater (figure 11) before attempting to read AR-2118 & ZI-5128 seismic maps.
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Chart Source: https://www.stockscores.com/charts/charts/?ticker=znog
ZN MJ#1 well finds active petroleum system that is not commercially productive. 3-D seismic testing in progress.
Zion Oil and Gas, Inc., a Delaware corporation, which has an active petroleum exploration license onshore Israel, the Megiddo-Jezreel License (“MJL”), comprising approximately 99,000 acres, announces that it has completed the testing program of its primary zones located within the Jurassic and Cretaceous-age Formations of the Megiddo-Jezreel #1 (MJ #1) well. As a result of the testing, Zion has determined that the well is not commercially productive.
Given the thermal gradient, flow rates, surface pressure and low salinity, certain ministries within the Israeli government have made requests of Zion concerning the use of the well as a water monitoring well. Zion will review the economic impact and obligations as a result of this request to determine a prudent plugging plan.
•Zone 4;
1,784-1,775 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
•Zone 5:
1,232.5-1,228 meters flowed naturally and continuously to surface. The fluid characteristics obtained from monitoring samples taken while the well was flowing indicated low chloride water.
8-k November 20, 2018
https://www.sec.gov/Archives/edgar/data/1131312/000121390018016338/f8k112018_zionoilandgas.htm
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